10:12 AM EDT, 04/29/2024 (MT Newswires) -- Prime Medicine ( PRME ) shares rose 8.5% in recent trading after the company said Monday that its investigational new drug application for potential treatment of chronic granulomatous disease received clearance from the US Food and Drug Administration.

The company said it is planning to start its phase 1/2 clinical trial to evaluate the product candidate PM359 in study participants who will initially be composed of adult patients with stable disease.

Initial results from the trial are expected in 2025, the company said.

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